SB 2010

Illinois Senate bill in Session 104.

Status: in_committee. Latest action: February 6, 2025.

CEMETERIES-DISTRIBUTIONS.

Bill ID IL-104-SB-2010
Session 104
Status in_committee
Committee Assignments
Senate in_committee 2025-02-06
Summary

Amends the Cemetery Care Act. Defines "average fair market value"", ""total return percentage"", and ""net income"". Provides that a trustee may apply to the Comptroller to establish a master trust fund in which deposits are made. Allows a cemetery authority to take distributions from its fund either by distributing ordinary income or total return distribution. Requires an application for the implementation of the total return distribution method to be submitted to the Comptroller at least 120 days before the effective date of the election to receive total return distribution. Allows, where no receiver is available, a circuit court to order a willing local municipality, township, county, or city to take over the cemetery. Repeals a provision regarding the use of care funds. Makes other changes."

Sponsor
Javier L. Cervantes
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-02-06 Introduced Bill introduced
2025-02-06 Status in_committee
2025-02-06 Latest Action 2/06/2025 - Senate:
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